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Dear Sir,
Grateful if you could please help me to solve the following MCQ.
Thank you.In the contexT of the preparation of a statement of cash flows using the direct method, the following information is relevant.
Revenue $560,000, markup percentage 33.33%, closing inventory $80,000 (an increase of 100% compared with the opening inventory), payables brought forward $79,000 payables carried forward $160,000, receivables brought forward $62,000, receivables carried forward$59,500, bad debts written off during the year $3,500, allowance for receivables brought forward $8,620, allowance for receivables carried forward $15,200.How much cash was paid to the suppliers/payables in the year?
A $379,000
B $541,000
C $569,000
D $407,000
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